Apollo Group Plans to Lay Off 500, as Does Education Management Corp.

By Goldie Blumenstyk

Two major higher-education companies announced layoffs this
week.

The Apollo Group, the parent company of the University of
Phoenix, said on Tuesday that it would lay off 500 nonfaculty
employees, the same day
it reported an 18-percent annual drop in enrollment and a
36-percent annual decline in operating income. Enrollment at
Phoenix was 269,000 as of August 31, 2013, down from